FunPlay: The Next Generation DAO-based Game Community
About the Project
FunPlay Group is devoted to creating a fun and mutually beneficial Web3.0 game community. Built upon blockchain smart contracts, we can see a secure and performant blockchain game community, which includes an on-chain credit system, a distributed asset pool, and a game NFT market. In addition, these will provide infrastructures to support the general Web3.0 game community.
Project Background
In 2021, blockchain games have gone beyond the traditional games positioning of “leisure, entertainment, e-sports”. They are augmented with the properties of finance, collection, and demonstration, which broaden people’s definition and perception about games. Furthermore, based on Axie Infinity’s “play-to-earn” concept game guilds represented by YGG have developed multiple business lines, such as scholar, game asset leasing, investment incubation, etc., along with the main coin earning business. This has incurred a new wave of investment in Q4. In 2022, GameFi and game guilds will enter the new development phase and make progress to realize the preliminary ideas of Metaverse.
GameFi has changed the operation and earning model of the gaming industry. It has a binding relationship between the interests of developers and long-term ecological development. The players can enjoy the dividend from it. At present, although the GameFi market is hot there exist problems such as high entry barriers, insufficient players, and a short-term economic model.
Blockchain games are essentially different from traditional games. Game players need to purchase NFT before participating in the game to earn income. Game developers maintain the economic model by continuously attracting new users. Currently, there are several drawbacks like the high risk for investors to purchase NFT projects, not enough time to gain from the game after the purchase, difficulty to finding capable and reliable game players to earn income for them in a short time, and long sales cycles for NFT, etc.
Game players hope to achieve “play to earn”, but they have challenges like not having sufficient funds to purchase NFT, being unable to find trustworthy game investors, or failing to receive systematic game training. However, game NFT asset holders often don’t stand in the same shoes as the players. Research shows that only 7% of the users fall in these two categories at the same time.
NFT holders tend to obtain short-term gain to the maximum degree, which means they are willing to sacrifice the long-term sustainability of the games. In contrast, the game players value the long-lasting and neutrality of the game. As a result, the number of game players is insufficient to support the long-term operation of the economic model. The advancement of blockchain games is currently blocked by all such kinds of difficulties.
A game guild is a team for online games, which aims to attract more members by the game itself. Through collaborations the members can not only better enjoy the game but also earn benefits. Game guilds are affiliated with online games. They complement each other with mutual benefits. As blockchain games thrive, the game community has shown bright prospects, which explains the emergence of various kinds of game communities. However, most of the game communities are still following traditional models, with too much centralization and non-transparent operation. Some even become the “parasite” of the game teams, slowing down the development of the games.
Blockchain-based games have open and transparent data, which offers necessities for DAO-based communities. We believe that the game concept of gamer asset ownership will be the foundation for future games. In 2022, we predict more traditional game studios will enter the field of crypto games and they will launch a new generation of crypto games, which will bring the world not only economic stimuli and authentic ownership but also top-notch gaming methodologies.
FunPlay blockchain community, as a delightful DAO community, aims at using the smart contracts of the blockchain to create a decentralized blockchain community.
The FunPlay community connects the producers, the investors, and the game players. All participating parties can build the credit platform, DAO-based fund pool, game NFT market, etc., to operate the whole economic model efficiently, minimize friction between them, and maximize interests for all parties.
Community Governance Scheme
FunPlay's governance scheme is based on the blockchain and the smart contract. We apply credit management on the blockchain for game participants, create the distributed asset pool for game NFT investment, and create the NFT market in the field, etc. We are dedicated to creating the crypto original language of the blockchain community as a solution. With thoughtful consideration of the protocol’s combination, it can serve as the building block of other protocols. Users are allowed to develop various new scenarios on open and public license-free systems.
On-chain Credit System
FunID provides all community participants an on-chain identity and creates a credit system according to the on-chain data analysis. The credit risk analysis can enhance the operational efficiency of the whole community. The credit system is formed through smart contracts and on-chain data. With the credit model, users’ multiple asset portfolios on various chains are taken into the credit system, hence the accurate user portrait can be established.
On-chain identity is the pass for community members. A good credit record enables for bigger profits. Based on the invested amount and the income distribution ratio, investors will have their credit level. The higher the credit level, the better game scholars will be attracted to, and the higher investment returns. Scholars gain their credit and technical rating through the in-game earnings and collaterals. Outstanding scholars can both attract good investors and gain decent income at the same time. Without the currently existing intermediate agencies of institutions, credit rating calculations are more transparent. Users account for their on-chain activities to obtain a credit rating for better community services, thus being extremely cautious of controlling their identity and maintaining their own credits.
Distributed Asset Pool
FunPool is a distributed asset pool for gathering funds, investing in game projects and NFT assets, and sharing earnings. The asset pool is administered through smart contracts and DApps. The community members lock their assets to gain voting rights, allowing them to vote on the investment distribution of DAO, the financial management, and other proposals. The voting right is proportionally weighted according to the number of locked position values. The community governance proposals can be initially discussed non-officially on the community Discord server. Every week, DAO members will be posted with the latest update. The proposal, first, will be submitted as a forum proposal. With over 90% approval, the proposal will be submitted to the on-chain voting platform for a final decision. If the voting passes, the concerning parties will officially release the proposal.
FunPool is administered by a multiple-signature wallet. The multiple-signature accounts depend on a board composed of community members. Only when all members of the board have it signed, the transaction will be executed. This can prevent mistakes and treasury funds embezzlement.
FunPool has a lock position period, during which the assets cannot be withdrawn. When the period ends, the earnings will be distributed as per the investment proportions. Members lock their positions and obtain administration for NFT in the asset pool. They can do NFT transactions in the FunMarket, thus entering or quitting the asset pool.
Game NFT Market
The goal of FunMarket is to establish a completely decentralized NFT market owned by the community. OpenSea is an outstanding company in the era and has been dominating the NFT secondary market, but I believe, thanks to the better UI/UX and search & discovery functions, a niche market will be opened in the game NFT field. FunMarket focuses on game NFT and devotes to restructure the mobility of game NFT, and improve the usage rate of game assets. The market will perform multi-dimensional analysis on game NFT from the perspective of past earnings, future earning predictions, etc., to minimize the risk for the investors.
The game players can make their on-chain credit into NFT and make them a bundle product together with the game asset NFT, and then integrate them into the “plowing NFT” which can distribute earnings automatically. The investors can purchase the plowing NFT to get stable income, without worrying about the asset safety or player’s level and credits, and the stable income can in return drive the game’s economic model to run in a long-lasting and healthy manner.
Community Governance NFT
The community will forge the Governance NFT and randomly airdrop to community participants. NFT owners can enjoy the distributed income, vote, and receive airdrops. NFT symbolizes the identity of community members and is considered the pass to community activities. As the community develops, the Governance NFT will gain better earnings, which can be transferred or sold in the NFT market.
Economic Model
FunPlay is a DAO community, where the economic returns belong to all members of the community. To encourage more people to participate in the operation, maintenance, promotion, design, and techniques of the community, the community will regularly stimulate the community NFT holders. Community earnings mainly come from game promotion, NFT market transactions, and community NFT sales.
Game Promotion
The Guild will investigate potential blockchain games and issue study reports on a weekly basis. Every week, the proposal will be submitted to the forum. If over 90% approves, the proposal will be submitted to the on-chain voting platform for final decision. If the voting passes, the proposing parties will officially issue and promote the game. The game promotion fees will be calculated in FunPool, and the earnings generated will be used to reward the community governance participants.
NFT Market Income
The community will charge a small amount (2%) of fees from the transactions in the FunMarket to develop and maintain the market, as well as to encourage the participants. The community participants will gain NFT random offerings and the NFT holders can gain income, execute voting rights, and receive airdrops.
Community NFT Sales
The community will gain earnings through selling Earning NFT and Collection NFT. The Earning NFT is like community share rights, where the right to distribute community income is embodied. As the community grows bigger, the earnings will be increased accordingly. While the Collection NFT are sold in limited amounts, for which the community will continuously operate and promote, and the value will be gradually accumulated.
Roadmap
January 2022 Release of Whitepaper
February 2022 Launch of Community Governance NFT
May 2022 Launch of FunPool
July 2022 NFT of Collection Category
August 2022 FunID Launched Online
December 2022 FunMarket Launched Online